181 High St Salem, OR 97301

This exceptional mixed-use property, known as Salem's Historic Grand, presents a compelling investment opportunity in Salem, Oregon's vibrant Central Business District (CBD). Encompassing 38,450 square feet on a half-acre lot, this three-story building boasts a rich history, having served as a community gathering space for over a century. Currently operating at 85% occupancy, the property offers a diverse mix of retail and executive office spaces, including theatre and conference facilities. Strategically located at the corner of High St NE and Court St NE, it provides convenient access to major thoroughfares, including I-5 and Highway 22. The building comprises seven tax parcels and includes 24 parking spaces. Significant infrastructure and theatre upgrades totaling over $2.5 million have been completed by the owner-users. Built in 1900, the property is zoned CBD and offers a compelling 7.75% cap rate at an asking price of $4,575,000 ($118.99/sq ft). This landmark building represents a rare chance to acquire a substantial, income-generating asset in a thriving Oregon market.